Capital Fund Management S.A. Trims Holdings in Caleres, Inc. $CAL

Key Points

• Capital Fund Management S.A. reduced its stake in Caleres, Inc. by 58.4%, leaving it with 16,287 shares after selling 22,858 shares in the first quarter.
• Institutional investors are actively trading Caleres, with Versant Capital Management increasing its stake by 244.0% and other firms like GAMMA Investing LLC growing theirs by 1,201.7%.
• Caleres reported disappointing quarterly earnings, with EPS of $0.22 versus an estimated $0.37, and revenue of $614.22 million, missing expectations of $622.93 million.

Capital Fund Management S.A. trimmed its holdings in shares of Caleres, Inc. (NYSE:CAL - Free Report) by 58.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,287 shares of the textile maker's stock after selling 22,858 shares during the quarter. Capital Fund Management S.A.'s holdings in Caleres were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in shares of Caleres by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,049,895 shares of the textile maker's stock valued at $47,475,000 after acquiring an additional 167,326 shares during the last quarter. American Century Companies Inc. raised its position in Caleres by 6.0% during the 1st quarter. American Century Companies Inc. now owns 1,216,998 shares of the textile maker's stock valued at $20,969,000 after purchasing an additional 68,779 shares during the last quarter. Royce & Associates LP raised its position in Caleres by 4.9% during the 1st quarter. Royce & Associates LP now owns 843,445 shares of the textile maker's stock valued at $14,533,000 after purchasing an additional 39,067 shares during the last quarter. Invesco Ltd. raised its position in Caleres by 5.4% during the 1st quarter. Invesco Ltd. now owns 811,952 shares of the textile maker's stock valued at $13,990,000 after purchasing an additional 41,434 shares during the last quarter. Finally, Nokomis Capital L.L.C. bought a new position in Caleres during the 4th quarter valued at approximately $18,336,000. 98.44% of the stock is currently owned by institutional investors.

Caleres Stock Performance

Shares of Caleres stock traded down $0.39 during midday trading on Friday, hitting $14.98. The company had a trading volume of 848,054 shares, compared to its average volume of 625,376. The stock has a market capitalization of $506.41 million, a P/E ratio of 6.24 and a beta of 1.14. The company has a 50 day moving average of $14.17 and a 200 day moving average of $15.21. Caleres, Inc. has a 52-week low of $12.09 and a 52-week high of $43.34.

Caleres (NYSE:CAL - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The textile maker reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.15). The company had revenue of $614.22 million during the quarter, compared to analysts' expectations of $622.93 million. Caleres had a return on equity of 14.94% and a net margin of 3.11%.The business's quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 EPS. Equities research analysts forecast that Caleres, Inc. will post 3.23 EPS for the current year.

Caleres Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 12th. Caleres's dividend payout ratio is presently 11.67%.

Wall Street Analysts Forecast Growth

Separately, Loop Capital lowered their price target on Caleres from $16.00 to $14.00 and set a "hold" rating for the company in a research report on Friday, May 30th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Caleres currently has a consensus rating of "Hold" and an average price target of $14.00.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.